We've got weather here in San Clemente, who would have ever though we would have had weather. This is crazy we have had more San Clemente weatherin 4 days than we have in the last 5 years.  Remember it never rains in California.  Well its is raining and raining and raining.  On Thursday we had a Tornado Warning in the city of Mission Viejo "in California".  Water spouts were seen off the coast.  We are getting real weather here in San Clemente, concerning the LA burn areas but we have had more rain wind and weather than anywhere other than foothills of LA here in San Clemente. Last night we had electrical storms, hail and rain.  It is quite the storm.  The good news it is to end tonight or early in the morning Saturday. 01/22/2010

We've got weather here in Mission Viejo, who would have ever though we would have had weather. This is crazy we have had more Mission Viejo weather in 4 days than we have in the last 5 years.  Remember it never rains in California.  Well its is raining and raining and raining.  On Tursday we had a Tornado Warning in the city of Mission Viejo "in California".  Water spouts were seen off the coast.  We are getting real weather here in Mission Viejo.  You have all seen the mud slides on the TV concerning the LA burn areas but we have had more rain wind and weather than anywhere other than foothills of LA here in Mission Viejo. Today we are suppose to get 6 to 12 inches of rain.  I guess we are not in a dry spell any more.   01/21/2010

Locally it is difficult to actually gage the success of the tax credit for home buyers and how it is working for the home owner.  Most of the buyers that I have had during last year were not informed about the tax credit and just wanted to purchase a home in this market.  It is difficult to gage if it had any effect on their buying habits. I realize that we cannot go by just the buyers that I have worked with.  But in my small poll of agents it seems that few buyers know about the $8,000 tax credit for first time home owners and $6,500 tax credit for a second or trade-up home.  It has not been a strong motivation in an area where the median home price is over $400,000.  However, when we look at the figures at the new home tract we see a different story.  The increase was 303 percent in... 01/17/2010

This weeks market report for San Clementeand surrounding areas shows that Orange County Median Prices for the resale homes were up 16.8 percent, for new homes it is up 4.7 percent and for resale condos up 10.7 percent.  The sales volume is up for resale homes 10.3 percent and up 18.8 percent on condos and down 12.5 percent for new homes.   Mission Viejo  Zip Code 92691  sales prices are up 7.3 percent and the sales volume is down 1.7 percent. Mission Viejo  Zip Code 92692  sales prices are down 4.7 percent and the sales volume is up 2.0 percent. Aliso Viejo  sales prices are down 6.3 percent and the sales volume is up 30.6 percent. Laguna Niguel  sales prices are up 7.7 percent and the sales volume is up 66.7 percent. Rancho Santa Margarita  sales prices are down 14.5 percent and the s... 01/17/2010

   If you have decided to list or purchase a condominium there are some new problems here in our area.  Many of the condominium projects are not qualifying for a loans.   It's no wonder with so many short sales and foreclosures the Homeowner Associations for condominium complexes are seeing an increase in the delinquency ratio of the monthly dues. As homeowners fall behind in their monthly dues it creates a shortfall in the reserves for the Homeowners Association. Often these are needed funds to be used for repairs to the property. In addition, the higher the delinquency ratio in the complex, the harder it is to obtain financing for new buyers.   Fannie Mae and Freddie Mac (Agencies) along with FHA have set their guideline with a limit of a 15% delinquency ratio. As an example, a condom... 01/12/2010

This weeks market report for San Clemente and surrounding areas shows that Orange County Median Prices for the resale homes were up 19.2 percent, for new homes it is up 2.2 percent and for resale condos up 11.1 percent.  The sales volume is up for resale homes 12.2 percent and up 22.3 percent on condos and down 21.1 percent for new homes.   Mission Viejo  Zip Code 92691  sales prices are up 6 percent and the sales volume is up 9.6 percent. Mission Viejo  Zip Code 92692  sales prices are up 4.4 percent and the sales volume is up 2.0 percent. Aliso Viejo  sales prices are down 1.1 percent and the sales volume is up 27.8 percent. Laguna Niguel  sales prices are up 2.7 percent and the sales volume is up 60.9 percent. Rancho Santa Margarita  sales prices are down 6.4 percent and the sales v... 01/10/2010

As of today there are 326 listings in San Clemente. This includes single family homes and condos. Of these 326 listings, here is a break down by Standard Sales, REOs and Short Sales: Standard Sales: 214 listings, 66% of the market, is comprised of Standard Sales. These are Equity Sellers, meaning that they are not in default or in foreclosure. The average time it takes to sell a Standard Sale listing in San Clemente is 87 days. The average list price of a Standard Sale is $840,437. However, the average sale price is about $50,000 below asking, at $790,757. REOs: 23 listings or 7% of the market is comprised of REO properties. These homes have already been foreclosed on and taken over by the lender. REO properties are also known as Bank-Owned properties. The average time it takes to sell ... 01/09/2010

Changes to Ola Vista will take several months.  Ola Vista is a street that carries bicyclists, beachgoers and the buses will be getting a make over.  Since it is a designated bike route and a bus route the bicylists may want to find a new route.  Starting in February the project will stretch from Avenida Princesa to Avenida Palizada.  They will be repaving the street, capping it with rubberized asphalt.  Reconfiguring the corner of Ola Vista and Avenida Santa Barbara to have forur stop signs.  They will be rehabing the curbs at Trafalgar and Ola Vista.  They will also be repairing curbs and gutters. The work is scheduled to be done in three block increments.  Closures and detours may be necessary during the process.  01/07/2010

 Just when we get through a tough year in real estate and are looking to 2010 to be better, the naysayers print articles saying what lies ahead could be worse. That's a terrible way to start the New Year and it doesn't help with buyer confidence.  The three main factors most commonly prescribed too are 1) the Fed will stop buying mortgage-backed securities that keeps interest rates low 2) the $8,000 tax credit will end and 3) foreclosure inventory will be increasing.   1) Since 2008 and through March 2010, the Federal Reserve will have purchased $1.25 trillion in mortgage-backed securities. This is 70% of all securities conforming to Fannie Mae and Freddie Mac. Since this is due to expire in March the fear is, interest rates will increase an estimated 1% stalling home sales. However, i... 01/05/2010

We often want to know what is going on and see things from the immediate view, when the longer view or decade view causes a better perspective.  The Median selling price for all residences in Orange County roughly doubled the pricing of the 1990's. The problem is that markets go up and they go down.  We tend to think that where they are now is where they will be in the near future.  History does not support that thinking.  So if we could forget the recent economic down turn we see that we produced housing gains of 105 percent in the decade and an annual growth at 7.5 percent. The 30 year mortgage adveraged 6.3 percent in the in the decade and  8.1 in the previous decade.  Some statistics 1990s vs 2000s: This decade market report for Mission Viejo and surrounding areas shows that Orange ... 01/05/2010

This weeks market report for San Clemente and surrounding areas shows that Orange County Median Prices for the resale homes were up 18.0 percent, for new homes it is up 2.6 percent and for resale condos up 13.9 percent.  The sales volume is up for resale homes 14.8 percent and up 23.2 percent on condos and down 16.9 percent for new homes. Mission Viejo  Zip Code 92691  sales prices are up 16.5 percent and the sales volume is up 3.8 percent. Mission Viejo  Zip Code 92692  sales prices are even 0.0 percent and the sales volume is up 25.0 percent. Aliso Viejo  sales prices are down 3.7 percent and the sales volume is up 26.3 percent. Laguna Niguel  sales prices are up 4.8 percent and the sales volume is up 88.9 percent. Rancho Santa Margarita  sales prices are down 5.0 percent and the sale... 01/04/2010

Monday Here's an extended forecast for Mission Viejo Today: Partly to mostly cloudy. High near 66F. Winds light and variable. Tonight: Generally clear. Low 52F. Winds light and variable. Tomorrow: Sunshine and some clouds. High 64F. Winds light and variable. Tomorrow night: Clear to partly cloudy. Low 53F. Winds light and variable. Wednesday: Partly cloudy. Highs in the low 60s and lows in the low 50s. Thursday: Partly cloudy. Highs in the low 60s and lows in the low 50s. Friday: Sunny. Highs in the low 60s and lows in the upper 49s. 01/04/2010

Many people have been asking me, “How was the real estate market in San Clemente last year?”. So here’s a little summary of what happened in San Clemente Real Estate in 2009: 516 – Single family detached homes were sold in San Clemente last year, ranging in price from $162,750 to $4,700,000. The cheapest single family home took 252 days to sell. It was a bank-owned home and needs geological, structural and cosmetic work throughout the house. It was eventually sold at auction. The most expensive home sold was in North Beach, San Clemente. It is a bluff top estate with views of the San Clemente Pier, Dana Point, and Catalina Island. It is a 6,900 sq. ft. home with 5 bedrooms and 8 baths. Although it was built in 1954, the home was completely remodeled in 2005. The average list price of a... 01/03/2010

215 condos were sold in San Clemente in 2009 The average list price for a San Clemente condo was $467,346 and the average sold price was $449,020. The average list price per square foot was $319.54 vs. the average sold price per square foot, $301.16. The average size of these condos is 1,467 sq. ft. with 3 bedrooms, 2.5 baths. The cheapest condo in San Clemente in 2009 sold for $152,500 on 2/3/2009. It was a bank owned home and sold in 14 days. It has 1 bedroom and 1 bath, a covered patio, and 438 square feet. It has inside stackable washer/dryer, and a 1 car detached garage. Amenities include a community swimming pool and jacuzzi. The most expensive condo in San Clemente in 2009 sold for $1,489,000 on 6/19/2009. It was a Standard Sale, on the market for 128 days, and bought with all c... 01/03/2010

2010 could be the year of the REO or the year of the Short Sale.  Since the economy is sluggish and is fragile it is likely that there will be more and more delinquent mortgages causing values to continue to drop.  However, there is a possibility that the lenders and homeowners might agree to short sell the home.  Some experts fear that the tax credit and the modifications may not help the housing market could actually hurt it in the long run.   They believe that programs may just cause more foreclosures and bankruptcies.  There is a growing number of delinquent home loans.  The problem is that more buyers are now shuning the short sales because they take too long to close.  Some of the lenders are begining to chang their programs too make them faster.  The lenders attitudes have change... 12/27/2009

This weeks market report for San Clemente and surrounding areas shows that Orange County Median Prices for the resale homes were up 16.6 percent, for new homes it is up 8.3 percent and for resale condos up 10.6 percent.  The sales volume is up for resale homes 17.4 percent and up 27.1 percent on condos and down 17.7 percent for new homes.       Mission Viejo  Zip Code 92691  sales prices are up 11.2 percent and the sales volume is down 14.5 percent. Mission Viejo  Zip Code 92692  sales prices are up 3.0 percent and the sales volume is up 38.1 percent. Aliso Viejo  sales prices are up 3.5 percent and the sales volume is up 31.6 percent. Laguna Niguel  sales prices are up 2.4 percent and the sales volume is up 44.3 percent. Rancho Santa Margarita  sales prices are down 6.4 percent and th... 12/27/2009

I created a Facebook Fan Page, "San Clemente Real Estate".  I hope you will find this a useful page.  I would love to hear any suggestions or commentary you have, either about this blog, or about the "San Clemente Real Estate" Fan Page.  What would you like to see?  Also, feel free to stop by my website: TeamSanClemente.com.  This is all so exciting! If you're renting right now, chances are good you can afford to buy.  I would love to talk to you about what you're looking for.  The market has changed a lot and there are great opportunities in Orange County and San Clemente! Happy Christmas Eve Eve Eve!   Sabina Brown Sabina@TeamSanClemente.com First Team Real Estate San Clemente San Clemente Homes Team San Clemente 949.201.9918 - San Clemente, CA - San Clemente Real Estate Facebook Fan ... 12/22/2009

Fewer buyers want foreclosed homes according to Trulia.com and RealtyTrac.  About 43 percent to American buyers say they are interested to buy a foreclosed home.  The number one reason cited for the change is they do not want the hidden costs.  There is a clear negative perception and, therefore, fewer buyers interest in foreclosed homes.  One is 2 U. S. adults who are single (never Married) are at least somewhat likely to consider purchasing a foreclosure comparied to 40 percent who are married. 12/20/2009

The median home price went up 8.1 percent in November over a year ago in Orange County California.  That is the biggest home price movement up since April 2006.  DataQuick reported this increase in median home prices on Tuesday and it was reporting on the up tick in November. They also reported that the number of homes sold in November was up 16.1 percent from a year ago.  Observers say the boost in sales may have been fueled by the first-time buyer tax cut, which was set to expire in November.  The other reasons for the increase is the low interest rates and low prices for the homes in Orange County California.   12/20/2009

This weeks market report for San Clemente and surrounding areas shows that Orange County Median Prices for the resale homes were up 16.3 percent, for new homes it is up 10.1 percent and for resale condos up 11.3 percent.  The sales volume is up for resale homes 17.4 percent and up 27.1 percent on condos and down 17.7 percent for new homes.     Mission Viejo  Zip Code 92691  sales prices are up 20.3 percent and the sales volume is down 8.7 percent. Mission Viejo  Zip Code 92692  sales prices are down 1.7 percent and the sales volume is up 30.6 percent. Aliso Viejo  sales prices are up 3.8 percent and the sales volume is up 41.5 percent. Laguna Niguel  sales prices are up 1.6 percent and the sales volume is up 68.9 percent. Rancho Santa Margarita  sales prices are down 5.1 percent and th... 12/20/2009